Condo classification codes for fnma
How does Fannie Mae & Freddie Mac list condos?
Fannie Mae and Freddie Mac will list the condominium and housing cooperative building list in their private database, condo manager, that is only accessible by lenders. Q: A resident obtains a mortgage via Fannie Mae or Freddie Mac, that was granted in part due to inaccurate/false information provided by the association.
What is a Freddie Mac & Fannie Mae joint form?
GSEs. Freddie Mac and Fannie Mae joint form, an addendum to the existing Form 476, Condominium Project Questionnaire - Full Form, may assist lenders in determining whether a project meets the temporary requirements. The Condominium Project Questionnaire Addendum (Form 476A) is a voluntary form for lenders.
Do condominium associations & co-op corporations follow maintenance schedules?
It is a best practice for condominium associations and co-op corporations to follow maintenance schedules Failure to meet reserve funding requirements and adhere to reserve funding best practices increases project risks
What is Fannie Mae's eligibility matrix?
The Eligibility Matrix provides the comprehensive LTV, CLTV, and HCLTV ratio requirements for conventional first mortgage loans eligible for delivery to Fannie Mae. The Eligibility Matrix also includes credit score, minimum reserve requirements (in months), and maximum debt-to-income ratio requirements for manually underwritten loans.
Special Feature Codes - Fannie Mae
The following is a list of Fannie Mae’s published special feature codes (SFC) applicable to delivery of single-family mortgage loans. Lenders should also review their Lender Contract, variances or special requirements to determine if other SFCs are required at delivery.
ELIGIBILITY MATRIX - Fannie Mae
requiring Special Feature Code (SFC) 588 and project code V for all detached condo loans at delivery; and retiring SFC 917 that was required for site condos. NOTE: These changes do not apply to manufactured housing units in condo projects. The Special Feature Codes list, which is available on our website, has also been updated. Effective Date
Selling Guide Announcement SEL-2018-01 - Fannie Mae
Jan 30, 2018 ·
[PDF File]FNMA Conventional Conforming Matrix
https://info.5y1.org/condo-classification-codes-for-fnma_1_f0f9f7.html
of project review the lender performs for properties in condo projects. See B4- 2.1-01, General Information on Project Standards, B4- 2.2-01, Limited Review Process, and B4-2.2-04, Geographic-Specific Condo Project Considerations.
[PDF File]Condo & PUD Matrix Reference Sheet Classification & Type ...
https://info.5y1.org/condo-classification-codes-for-fnma_1_f841a7.html
Refer to FHA condo information below OTHER REVIEW TYPES: FNMA PERS REVIEW T New or proposed Determined by FNMA FNMA Forms: 1026, 1029, 1054, 1051, 1081, 1071, 1073A, 1030 Review fee must be paid in advance Refer to FNMA Announcement 08-34 for more information INVESTOR REIVEW N/A New Project or Projects with litigation
Condominium Project Eligibility and Review - FHLBMPF
Follow FNMA Appraisal Waiver requirements. Not eligible for manufactured homes, 2-4 unit properties, TX Home Equity 50(a)(6) or 50(a)(6) Conversion, values of $1M or greater, leaseholds, properties with resale restrictions, when satisfying construction financing, using
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